Battistini, Niccolò; Falagiarda, Matteo; Hackmann, Angelina - 2022
policy across euro area regions. By exploiting a novel regional dataset on housing-related variables, a structural panel VAR … analysis shows that monetary policy propagates effectively to economic activity and house prices, albeit in a heterogeneous … fashion across regions. Although the housing channel plays a minor role in the transmission of monetary policy to the economy …